Toronto Dominion Bank increased its stake in Everest Re Group, Ltd. (NYSE:RE) by 12.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,579 shares of the insurance provider’s stock after acquiring an additional 1,667 shares during the period. Toronto Dominion Bank’s holdings in Everest Re Group were worth $3,558,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Everest Re Group by 23.1% in the second quarter. Vanguard Group Inc. now owns 3,756,913 shares of the insurance provider’s stock worth $956,473,000 after acquiring an additional 704,287 shares during the last quarter. State Street Corp lifted its position in Everest Re Group by 26.4% during the second quarter. State Street Corp now owns 2,157,326 shares of the insurance provider’s stock valued at $549,219,000 after buying an additional 450,606 shares in the last quarter. APG Asset Management N.V. lifted its position in Everest Re Group by 43.6% during the third quarter. APG Asset Management N.V. now owns 1,032,662 shares of the insurance provider’s stock valued at $235,850,000 after buying an additional 313,700 shares in the last quarter. Northern Trust Corp lifted its position in Everest Re Group by 5.4% during the second quarter. Northern Trust Corp now owns 676,890 shares of the insurance provider’s stock valued at $172,330,000 after buying an additional 34,827 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Everest Re Group by 4.6% during the second quarter. Wells Fargo & Company MN now owns 660,875 shares of the insurance provider’s stock valued at $168,252,000 after buying an additional 29,268 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of Everest Re Group, Ltd. (NYSE:RE) traded down $1.09 during trading hours on Wednesday, hitting $211.06. 626,476 shares of the company were exchanged, compared to its average volume of 409,511. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $8,770.84, a price-to-earnings ratio of 50.85, a PEG ratio of 12.47 and a beta of 0.61. Everest Re Group, Ltd. has a fifty-two week low of $209.22 and a fifty-two week high of $277.17.
Everest Re Group (NYSE:RE) last issued its quarterly earnings results on Monday, October 30th. The insurance provider reported ($16.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.68 by ($20.11). The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.62 billion. Everest Re Group had a return on equity of 2.22% and a net margin of 4.27%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $6.53 EPS. analysts forecast that Everest Re Group, Ltd. will post 1.71 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 29th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Tuesday, November 28th. This is a positive change from Everest Re Group’s previous quarterly dividend of $1.25. Everest Re Group’s payout ratio is 81.63%.
In related news, Director William F. Galtney, Jr. purchased 6,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average price of $225.29 per share, for a total transaction of $1,351,740.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.
RE has been the topic of a number of recent research reports. UBS reduced their price target on shares of Everest Re Group from $256.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 19th. ValuEngine cut shares of Everest Re Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 7th. Keefe, Bruyette & Woods reiterated a “sell” rating and set a $230.00 price objective on shares of Everest Re Group in a research note on Friday, October 13th. Buckingham Research initiated coverage on shares of Everest Re Group in a research note on Monday, September 11th. They set a “neutral” rating and a $255.00 price objective on the stock. Finally, Barclays dropped their price objective on shares of Everest Re Group from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, October 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Everest Re Group presently has an average rating of “Hold” and a consensus price target of $250.56.
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About Everest Re Group
Everest Re Group, Ltd., through its subsidiaries, is engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets. The Company operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.
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